Inside the bad math that lets Coca-Cola say it gives back all the water it uses

When Coca-Cola announced plans earlier this year to recycle the equivalent of 100 percent of its packaging by 2030, the company touted the effort as building on its success with sustainable water use. In a 2016 full-page ad published in TheNew York Times, the company proclaimed, “For every drop we use, we give one back,” boasting on its website that it was “the first Fortune 500 company to hit such an aggressive target.” But a year of reporting into Coca-Cola’s water program shows that the company is grossly exaggerating its water record, which suggests that its new “World Without Waste” recycling plan should also be viewed with skepticism.

Coca-Cola came under fire for its water practices in the mid-2000s. (The company did not answer...